Takaful operators are part of the Islamic financial institutions that are expected to achieve the commercial and social objectives by their stakeholders particularly the takaful participants (policyholders). First, this study aims to postulate a new framework to measure cost effectiveness by...

This paper discussed the prevailing issues currently faced by Islamic banks on the offering of Letter of Credit (LC), originally brought forward by the International Chamber of Commerce, using Shariah contracts and puts forth recommendations on practical solutions to solve the issues. The study...